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Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
 • Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against price volatility
• The indices will serve as a barometer of the coal market in India covering various grades of coal, representing the domestic coal sold through spot eAuction in India
Marking a significant development for the coal industry in India, mjunction services, India’s largest eCommerce company today launched the country’s first and only ‘coal spot price index’ which would serve as a barometer of the coal market in India and provide a reliable price benchmark across the coal industry. The index is aimed at empowering Indian coal consumers, enabling them to avert risks against market price volatility.
After months of in depth research and testing, a team specially formed for the purpose, finally developed four separate indices. While MJcomposite would serve as a barometer of the overall coal market in India, the other three industry-specific indices would serve the steel, cement and power sector respectively.
• MJcomposite: A value-weighted spot price index covering all the grades auctioned through eAuction, representing more than 70 per cent domestic coal sold through eAuction in India. The index constitutes 60 different varieties of coal from various coal producing companies in India (under MoC).
• MJsteel: A value-weighted spot price index exclusively showcasing the performance of Grade B coal (GCV = 5,800-6,400 Kcal/Kg). All the buyers/sellers of Grade B coal can use this index as a benchmark. Major consumers that will benefit from the index would be the steel and sponge iron sector, paper industry, etc.
• MJcement: A value-weighted spot price index exclusively showcasing the performance of Grade C coal (GCV = 5,400-5,800 Kcal/Kg). All the buyers/ sellers of Grade C coal can use this index as a benchmark. The index will serve as a very useful tool for coal consumers in the cement industry.
• MJpower: A value-weighted spot price index exclusively showcasing the performance of Grade E and F coal (GCV = 3,600-4,800 Kcal/ Kg). About 52 per cent of total coal offered through eAuction mode. The index will serve as a very useful tool for coal consumers in the power sector as well as CCP units.
The index will be a free service for all users of coaljunction (www.coaljunction.in) permitting them to view the index values and take informed decisions pertaining to their coal buys and sales.
Benefits of coal spot price index
• Understanding of the price movement (based on demand and supply) for Indian coal
• As a landed price benchmark for finalising the coal imports
• As a benchmark for secondary market transactions
• Can be used as a Final Settlement of Coal Futures Contract
• To implement risk management
• Buyers can hedge their risk using various financial products (index linked deals, SWAPS, other customised products) linked with the index
Speaking on the occasion, Viresh Oberoi, managing director, mjunction services said, “The coal spot price index is a service from coaljunction – a dedicated business unit of mjunction which deals with coal eSales. The coal industry in India, has relied till date on the international coal spot price indexes like Richards Bay Coal – API-3 from South Africa, Global Coal (RB and NC), Japan Power Utility Index, Australian New Castle Coal – API-3 and ACR Asian Index to name a few. With the advent of ‘MJcomposite, MJsteel, MJcement, MJpower’ the industry will now have a much more accurate and authentic coal price benchmark.”
Unveiling the coal spot price indices at a function held at Kolkata, AK Sarkar, director – marketing, Coal India, said, “The coal spot price index developed by mjunction is a very significant step in the development of price benchmark in the Indian coal sector. Unrestricted availability of information of the prices is a very important feature of any well functioning market. I hope, the coal spot price indices will eventually work as a benchmark when the coal derivative market takes root in India and buyers and sellers can hedge their risks through the use of coal derivatives.”
Mr Oberoi further added, “We are delighted that our expertise in the coal market will now benefit all the stakeholders of the coal industry. We are optimistic that our coal spot price index being the country’s first such index, will now reduce dependence of the coal producers, consumers and traders on the international price benchmarks while conducting coal business transactions. When the current domestic demand of coal is estimated at 660 million tonnes by 2009-10 with a further import potential of 100 million tonnes by 2012, our coal spot price indices are deemed to play a crucial role in managing coal trade in our country and overseas.”
The launch of the coal spot price index signifies mjunction’s focus on the use of technology and knowledge based services to empower its customers. It also demonstrates the deep insights and domain expertise that coaljunction has been able to develop over the years and then coming up with innovative services for the betterment and development of the coal industry as a whole.
Continuing to be a prime platform for knowledge gathering and exchange across diverse subjects ranging from coal, steel, non-ferrous metals, minerals, sourcing, logistics, mjunctionedge – the content and conference division of mjunction – is also organising the ‘3rd Indian Coal Markets Conference 2009’ scheduled on October 6-8, 2009 at New Delhi.
To be organised in association with ‘The McCloskey group’ it will cover all aspects of the coal supply chain beginning from exploration right up to consumption across various sectors. The conference is expected to see buyers, major coal producers’ analysts and key industry stakeholders from all over the world discuss their strategies on fulfilling the ever-increasing demand for coal, share insights on the coal imports, identify, network and promote future business prospects.
The conference thus promises to be an active discussion ground wherein key national and international speakers like Eoghan Cunningham – CEO, globalCoal, Dan H Chu – MD, mergers and acquisitions group, UBS Investment Bank, Bruce Hartshorn – senior VP of met-coke and export sales, Alpha Coal Sales, A Laxminarayana – VP, marketing and operations, eastern region, Coal & Oil, Jack Kellet – executive director, energy risk management, Mitsui, BK Chaturvedi – member, Planning Commission, Government of India, RV Shahi –chairman, Energy Infratech, A Sarkar – director marketing, Coal India, NC Jha – director technical, Coal India, TK Chatterjee – executive director, fuel management, NTPC, and many other dignitaries highlight the opportunities and issues faced by the coal market in India as well as globally.
Source: TATA
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Saturday, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
Friday, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
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- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Aditya Birla Group - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- The University of Queensland
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
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